SMM China Copper Anode Operating Rate Falls to 41.63% in October

Qualcomm reported fiscal Q4 2026 revenue of $10.32 billion and adjusted EPS of $2.17, above consensus of $10.11 billion and $2.16. It guided next-quarter revenue to $10.4-11.2 billion (consensus $10.48 billion) and adjusted EPS of $2.15-2.35, below the $2.32 consensus at the midpoint. As memory chip shortages and rising costs prompt handset makers to cut output, phone chip revenue fell 26% to $5.14 billion, with total revenue down 8%. CEO Cristiano Amon said data center constraints stem from supply, not demand, with data center revenue seen reaching $5 billion in fiscal 2027. Automotive revenue rose 89% to about $2 billion and IoT revenue grew 4% to about $1.89 billion, beating estimates. Qualcomm shares fell 5%+ after hours.

Hon Hai reported October revenue of NT$1.31 trillion (about $39.7 billion), up 46% year on year, reflecting continued build-out of global AI infrastructure and sustained demand for Nvidia servers. September revenue rose 38% year on year to a record NT$1.16 trillion, lifting third-quarter revenue 47% to NT$3.03 trillion, 7% above market expectations. Cloud and networking, driven by AI server demand, were again the main growth engine, with computing products and components also growing. Consumer electronics revenue was flat despite higher average iPhone prices. Analysts expect growth momentum to extend into Q4 as Vera Rubin shipments ramp up and seasonal IT factors lend support.